by CA Chinmay Shirish Agate | May 23, 2021 | GST, SMEs, Taxation
No doubt, GST has bought several non-tax payers into the Tax bracket. But, what about some genuine and necessary sectors which have been affected because of the GST? It has vitalized some FMCG companies, but what about the rest? More or less of the FMCG sectors have...
by CA Chinmay Shirish Agate | May 23, 2021 | SMEs, Taxation
The Indian Income Tax System places the incidence of tax based on the residential status of the assessee. If the assessee is Individual, it’s residential status is based on the number of days of his residence in India. However, in case of Companies, residential status...
by CA Chinmay Shirish Agate | May 23, 2021 | SMEs, Taxation
The Finance Act,2018 withdrew the exemption provided under section 10(38) of the Income Tax Act,1961 and inserted section 112A to tax Long term capital gain arising from transfer of listed shares, units of equity oriented mutual fund and units of business trust....
by CA Chinmay Shirish Agate | May 23, 2021 | GST, SMEs, Taxation
GSTR 9 is an annual return to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme. It consists of details regarding the supplies made and received during the year under different tax heads i.e. CGST,...
by CA Chinmay Shirish Agate | May 23, 2021 | SMEs, Taxation
1. Dividend is ordinarily used to refer to any distribution made by a company to its shareholders out of its profits in proportion to the number of shares held by the shareholder concerned in the company. 2. Section 115-O (1): Tax on distributed profits of...
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